Shanghai Housing Fund can lend up to 3.24 million. Experts say the real estate market may welcome a small spring.

On the 25th, Shanghai announced the “Seven Policies” for the real estate market. Yan Yuejin, Deputy Director of the Shanghai E-House Real Estate Research Institute, stated that the policies involve adjustments to purchase restrictions, optimization of housing provident fund policies, improvement of property tax policies, and other seven aspects. The notice clearly states that the maximum loan limit for housing provident fund loans will be moderately increased. The maximum provident fund loan for families purchasing their first home will be raised from 1.6 million yuan to 2.4 million yuan. Yan Yuejin said that when combined with policies for multi-child families and higher loans for green buildings, the maximum individual loan limit for Shanghai’s provident fund could reach 3.24 million yuan, leading the country. Yan Yuejin summarized that the overall performance of the real estate market in various cities, including first-tier cities, is currently good, especially with positive data from the first two months of this year. With these policies, the market outlook for a “small spring” is worth looking forward to. First-tier cities have played a leading role in the current stabilization of the real estate market, and the market expectations are expected to further improve. (China News Service)